Walls & Futures REIT plc (WAFR) First Day of Dealing Announcement

Walls & Futures REIT plc

First Day of Dealing Announcement 

 

The Directors of Walls & Futures REIT plc (“Walls & Futures”), the residential property investment company, are pleased to announce that its application to the ISDX Growth Market for Admission of its Ordinary Shares has been successful.

It is expected that trading for the Company’s 3,290,225 Ordinary Shares of £0.05 each will become effective and that dealings will commence at 8.00 am on 29th November 2016.

Background

Walls & Futures was incorporated to acquire the assets of the Walls & Futures London Growth Fund by way of a restructuring and to raise additional equity finance to acquire, refurbish or develop residential properties in the UK. The Company intends to have a particular focus on London and the South East for the private rental sector and countrywide for the Supported Housing sector.

Walls & Futures has recently closed an Offer for Subscription which raised just over £1 million at an issue price of £1 per Ordinary Share. Completion of the Restructuring is conditional upon Admission and will take place as soon after admission as practicable.

Strategy

The Company’s strategy is to invest in cities and towns across the UK. There will be an emphasis on acquiring assets that can be developed or redeveloped to create value and enhance yields. The initial focus will be on the provision of residential housing for the private rented and supported housing sectors, providing a blend of capital growth and higher yielding assets.

Joe McTaggart, Chief Executive Officer, commented:  

“We are delighted to be joining ISDX and by the investor enthusiasm and support for the Company during our recent fundraise. I would like to welcome our new shareholders and look forward to updating them, and our long standing London Growth Fund investors, as the Company moves forward and executes its growth plans.”

Company Details:

Walls & Futures REIT plc registered in England and Wales (Company No. 10071765)

Registered Office:

3rd Floor 111 Buckingham Palace Road, London SW1W 0SR

ISIN

GB00BD04QG09

EPIC

WAFR

Sector Classification

Real Estate Investment Trust

Website

www.wallsandfutures.com

Shares in public hands

82.52%

A copy of the Admission Document is available by application to the Company’s Corporate Adviser – City & Merchant  – info@cityandmerchant.com or 0207 101 7676.

The directors of the issuer accept responsibility for the contents of this announcement.

 

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